GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » HomeTrust Bancshares Inc (NYSE:HTB) » Definitions » Beneish M-Score

HTB (HomeTrust Bancshares) Beneish M-Score : -2.39 (As of Mar. 19, 2025)


View and export this data going back to 2012. Start your Free Trial

What is HomeTrust Bancshares Beneish M-Score?

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.39 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for HomeTrust Bancshares's Beneish M-Score or its related term are showing as below:

HTB' s Beneish M-Score Range Over the Past 10 Years
Min: -22.53   Med: -2.57   Max: -2.21
Current: -2.39

During the past 13 years, the highest Beneish M-Score of HomeTrust Bancshares was -2.21. The lowest was -22.53. And the median was -2.57.


HomeTrust Bancshares Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of HomeTrust Bancshares for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.095+0.528 * 1+0.404 * 1+0.892 * 1.0068+0.115 * 0.9408
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0154+4.679 * 0.00214-0.327 * 1.0266
=-2.39

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec24) TTM:Last Year (Dec23) TTM:
Total Receivables was $184.3 Mil.
Revenue was 51.448 + 50.356 + 50.279 + 50.05 = $202.1 Mil.
Gross Profit was 51.448 + 50.356 + 50.279 + 50.05 = $202.1 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $4,595.4 Mil.
Property, Plant and Equipment(Net PPE) was $69.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $17.0 Mil.
Selling, General, & Admin. Expense(SGA) was $72.0 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $10.1 Mil.
Net Income was 14.208 + 13.112 + 12.418 + 15.067 = $54.8 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.0 Mil.
Cash Flow from Operations was 4.302 + 43.779 + 5.922 + -9.034 = $45.0 Mil.
Total Receivables was $167.2 Mil.
Revenue was 50.419 + 50.787 + 50.702 + 48.864 = $200.8 Mil.
Gross Profit was 50.419 + 50.787 + 50.702 + 48.864 = $200.8 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $4,672.6 Mil.
Property, Plant and Equipment(Net PPE) was $70.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $16.0 Mil.
Selling, General, & Admin. Expense(SGA) was $70.5 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $10.0 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(184.32 / 202.133) / (167.194 / 200.772)
=0.911875 / 0.832756
=1.095

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(200.772 / 200.772) / (202.133 / 202.133)
=1 / 1
=1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (0 + 69.872) / 4595.43) / (1 - (0 + 70.937) / 4672.633)
=0.984795 / 0.984819
=1

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=202.133 / 200.772
=1.0068

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(16.039 / (16.039 + 70.937)) / (17.035 / (17.035 + 69.872))
=0.184407 / 0.196014
=0.9408

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(72.023 / 202.133) / (70.452 / 200.772)
=0.356315 / 0.350906
=1.0154

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((10.12 + 0) / 4595.43) / ((10.021 + 0) / 4672.633)
=0.002202 / 0.002145
=1.0266

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(54.805 - 0 - 44.969) / 4595.43
=0.00214

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

HomeTrust Bancshares has a M-score of -2.39 suggests that the company is unlikely to be a manipulator.


HomeTrust Bancshares Beneish M-Score Related Terms

Thank you for viewing the detailed overview of HomeTrust Bancshares's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


HomeTrust Bancshares Business Description

Traded in Other Exchanges
N/A
Address
10 Woodfin Street, Asheville, NC, USA, 28801
HomeTrust Bancshares Inc operates as a bank holding company. It engaged in the business of planning, directing and coordinating the business activities of the Bank. The Bank is a North Carolina state chartered bank and provides a range of retail and commercial banking products.
Executives
Dwight L. Jacobs other: Advisory Director 550 S. TRYON STREET - DEC45A, CHARLOTTE NC 28117
Richard Tyrone Williams other: Advisory Director HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Jesse Cureton other: Advisory Director C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Bonnie V Hancock other: Advisory Director P O BOX 12818, HOUSTON TX 77075
Lora Jex officer: EVP and Chief Risk Officer C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Narasimhulu Neelagaru director C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Robert E. James other: Advisory Director HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Laura C Kendall other: Advisory Director C/O CHARLES & COLVARD, 3800 GATEWAY BLVD #310, MORRISVILLE NC 27560
John Switzer other: Advisory Director BARINGS LLC, 300 SOUTH TRYON STREET, SUITE 2500, CHARLOTTE NC 28202
Sprink John Francis Ii officer: EVP C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Marty T. Caywood officer: EVP, Chief Information Officer HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Sidney A. Biesecker director C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Hunter Westbrook officer: SVP, Chief Banking Officer C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Craig C. Koontz director C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801
Tony J. Vuncannon officer: SVP, Chief Financial Officer C/O HOMETRUST BANCSHARES, INC., 10 WOODFIN STREET, ASHEVILLE NC 28801